He doesn’t have a $190 million net worth lmao.
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You really don't have a clue who Richard Spencer is do you? Even Wiki saids it clearly "and Sherry Spencer (née Dickenhorst),an heiress to cotton farms in Louisiana and has Jewish ancestry.He went to St. Mark's School of Texas the #1 Prep school in Texas.He is part of elite.pic.twitter.com/40zVc6QSYp
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You must be wildly dense. I know his family tree and I know where he prepped. It’s pretty obvious his family is rich, though I wouldn’t call them “part of the elite” (they’re not and if you think they are you’re an idiot). You clearly don’t understand how familial wealth works.
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Replying to @SoylentMerchant @PelayoSecundus and
The point of the entire conversation is that nowhere in the article does the guy provide proof or sources or figures or literally anything to support his $190mm number— this makes it pretty obviously complete bullshit.
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Replying to @SoylentMerchant @PelayoSecundus and
Beyond that, families divide wealth among their heirs. Wealthy families use a family office to manage their estate and investments. The family office or trust associated with the estate doles out investment income earned on whatever assets are contained in the trust.
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Replying to @SoylentMerchant @PelayoSecundus and
Which are usually invested in low risk securities, real estate, etc. You can have substantial value in a trust and produce basically nothing for income once it’s split up. (Let’s say 5% on investments + income from any land owned). Even if his split of a multigenerational estate
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Replying to @SoylentMerchant @PelayoSecundus and
was actually worth $190mm (it isn’t), it sounds like most of that would just be value tied up in real estate. Most of whatever cash existed would be put in bonds or treasury notes; things he can’t touch. That number (which again is obviously false) really doesn’t mean shit.
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Honestly it wouldn’t surprise me if his family’s estate was actually worth $190m between real estate investments and growth over a 3-4 generations but that’s pretty much meaningless after trickle down. Aunts uncles and parents share most income. Richard wouldn’t get much.
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